Casino Industry Insider news bites - 03-17-09

Mar 17, 2009 4:06 PM
The Insider by Ray Poirier | Three current directors of Wynn Resorts Ltd. (WYNN) have been nominated for re-election to the board. They are: Elaine P. Wynn, Linda Chen and John A. Moran.

Herbst Gaming Inc. has indicated it will give up control of its casinos, but retain its slot route operations, in a bankruptcy restructuring plan.

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A judge in Maryland has upheld the rejection of a slots license bid by Magna Entertainment Corp. (MECA) because it failed to include a required $28,000 check. Also, the company’s stock, MECA, has been delisted by Nasdaq.

Gaming analysts have upgraded the shares of Pinnacle Entertainment Inc. (PNK) and Penn National Gaming Inc. (PENN).

New Hampshire Senate supporters of slots legislation lacked the votes for passage last week and asked that any action be postponed. Earlier the House had strongly opposed two such bills.

Race track slots in Kentucky failed to see action before the current session of the legislature adjourned last weekend. The lawmakers will return for two days on March 26 to only vote on possible veto overrides.